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Wednesday, October 4, 2023

Tata Sons and SpiceJet Bid For 100% Stake in Air India


New Delhi: Tata Sons and Spice Jet have submitted their bids for Air India divestment. The Secretary, Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey said that the bidding process has moved to its concluding stage now.

Postponed on several occasions in past, due to the Covid-19 pandemic, Aviation Minister Jyotiraditya Scindia had earlier made it clear that the deadline of September 15 will not be extended.

The divestment plan includes selling a 100% stake in the Air India and Air India Express airlines, and a 50% stake in the ground handling company Air India SATS Airport Services Private Limited (AISATS).

Other properties in the bid include Mumbai’s Air India building and Delhi’s Airlines House.

At present, the airline possesses 4,400 domestic and 1,800 international landing and parking slots at domestic airports. It also controls 900 slots abroad.

The Tatas had set up the Tata Airlines in 1932, renamed Air India in 1946. The government took it over in 1953.

Currently, Tata operates Vistara and Air Asia, in partnership with Singapore Airlines, and Malaysia’s AirAsia, respectively.

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